Rattler Midstream LP (NASDAQ:RTLR) – Analysts at Capital One Financial lowered their FY2021 EPS estimates for Rattler Midstream in a note issued to investors on Monday, January 31st. Capital One Financial analyst K. May now anticipates that the company will earn $0.90 per share for the year, down from their prior estimate of $0.91. Capital One Financial also issued estimates for Rattler Midstream’s Q1 2022 earnings at $0.27 EPS, Q3 2022 earnings at $0.29 EPS, Q4 2022 earnings at $0.30 EPS, FY2022 earnings at $1.13 EPS and FY2023 earnings at $1.27 EPS.
RTLR has been the topic of several other reports. Credit Suisse Group increased their price target on shares of Rattler Midstream from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 12th. Zacks Investment Research lowered shares of Rattler Midstream from a “hold” rating to a “sell” rating in a research note on Thursday, January 6th. Finally, TheStreet upgraded shares of Rattler Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, October 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.17.
Shares of Rattler Midstream stock opened at $13.00 on Tuesday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 15.48 and a beta of 3.88. Rattler Midstream has a 52 week low of $9.22 and a 52 week high of $13.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.93 and a quick ratio of 3.70. The company has a 50 day moving average of $11.45. Rattler Midstream (NASDAQ:RTLR) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). The company had revenue of $96.57 million during the quarter, compared to analysts’ expectations of $102.61 million. Rattler Midstream had a net margin of 9.01% and a return on equity of 2.93%. During the same quarter in the prior year, the company earned $0.20 earnings per share.
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The firm also recently announced a quarterly dividend, which was paid on Monday, November 22nd. Stockholders of record on Monday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.69%. Rattler Midstream’s dividend payout ratio (DPR) is presently 119.05%.
In related news, Director Steven E. West sold 18,175 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $11.47, for a total transaction of $208,467.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several hedge funds and other institutional investors have recently modified their holdings of RTLR. Macquarie Group Ltd. lifted its holdings in Rattler Midstream by 793.8% in the second quarter. Macquarie Group Ltd. now owns 2,266,628 shares of the company’s stock valued at $24,752,000 after acquiring an additional 2,013,028 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in Rattler Midstream by 27.4% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,065,968 shares of the company’s stock valued at $24,254,000 after acquiring an additional 444,000 shares during the period. Renaissance Technologies LLC lifted its holdings in Rattler Midstream by 201.1% in the second quarter. Renaissance Technologies LLC now owns 459,067 shares of the company’s stock valued at $5,013,000 after acquiring an additional 306,594 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Rattler Midstream by 14.2% in the second quarter. Goldman Sachs Group Inc. now owns 1,757,214 shares of the company’s stock valued at $19,189,000 after acquiring an additional 219,009 shares during the period. Finally, FMR LLC lifted its holdings in Rattler Midstream by 280.1% in the second quarter. FMR LLC now owns 279,205 shares of the company’s stock valued at $3,049,000 after acquiring an additional 205,747 shares during the period. 21.25% of the stock is owned by hedge funds and other institutional investors.
About Rattler Midstream
Rattler Midstream LP operates as a holding company. It engages in the operation, development and acquisition of midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin. The firm provides crude oil, natural gas and water related midstream services including fresh water sourcing and transportation and saltwater gathering and disposal.
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